Guernsey joins Jersey and IoM in scams warning

The third of Britain’s three Crown Dependencies has today joined the other two, Jersey and the Isle of Man, in warning its residents to “be vigilant” in order to avoid being taken advantage of by financial scammers.

In a statement posted on its website, the Guernsey Financial Services Commission said: “You are reminded to be vigilant about any requests for your personal security information, as scammers can be very convincing.

“If you think you have fallen victim to a scam, you should tell your bank immediately, and also report it to Guernsey Police,” the GFSC statement added.

The issue of financial scams has received more press than usual in recent months in many UK publications, in part as a result of what some have said has been an increase in the number of scams that have been taking place in the wake of a change in the UK’s pension regulations, which have made it easier for individuals to access their pension pots, and press reports of a UK government consultation into the problem.

Last year, both Jersey and Guernsey were named in a case involving a Guernsey-based Brazilian debt fund that went into administration, which turned out to have been an arm of a Miami-based company, known as Providence Financial Investments, which had a Guernsey operation, and which filed for Chapter 7 bankruptcy in the US on 28 July.